International Business Machines Co. (NYSE:IBM) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 17.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,829 shares of the technology company’s stock after selling 1,405 shares during the quarter. SageView Advisory Group LLC’s holdings in International Business Machines were worth $1,510,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Meeder Asset Management Inc. increased its stake in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines during the 2nd quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $5,117,000. Aljian Capital Management LLC purchased a new position in shares of International Business Machines in the 3rd quarter valued at $611,000. Finally, Focused Wealth Management Inc lifted its position in International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after acquiring an additional 3,887 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $234.92 on Friday. International Business Machines Co. has a 52 week low of $157.88 and a 52 week high of $237.37. The company has a 50-day moving average price of $221.40 and a 200 day moving average price of $199.02. The company has a market cap of $217.22 billion, a P/E ratio of 34.20, a PEG ratio of 5.14 and a beta of 0.73. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the firm earned $2.20 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.84%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analyst Ratings Changes

IBM has been the topic of several research reports. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Morgan Stanley dropped their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.